Investors in British Columbia are among the most pessimistic in the country about the direction of the stock market, according to a BMO survey.
Two-thirds of B.C. respondents (67%) to the Pollara poll conducted for BMO believed a market correction was likely within the next decade. That compares with the national average of 63%.
Alberta investors were the most optimistic with 58% expecting a market correction.
The ripple effects of the financial crisis have likely impacted investor sentiment in the country. According to the survey, a third of Canadian investors are looking for safer investments for their portfolios compared with 17% prior to the 2008 financial crisis. The shift in sentiment was strongest among young investors with 43% of Canadians under 35 preferring investments they felt were safe, up from 11% prior to the financial crisis.
About 78% of respondents felt Guaranteed Investment Certificates (GICs) were the safest investments, followed by bonds (64%), precious metals (46%) and mutual funds (43%).
